The Calgary Flames Limited Partnership now has a major stake in every sports team in the city after Thursday’s announcement that they’ve assumed majority ownership of the Calgary Stampeders.

“I think we can really have some fun,” said president Ken King in a news conference at McMahon Stadium. “Now, with the addition of this, which will be our fifth team (including the Flames farm team, the Abbotsford Heat, the Western Hockey League’s Calgary Hitmen and the National Lacrosse League’s Calgary Roughnecks), it’s about the right size in order to get more things done.

“It’ll help the Flames too, it’ll help the Hitmen, it’ll help the lacrosse team. There is some cross-pollination in terms of marketing promotion and ticketing. But most importantly, it’ll benefit the fans.”

Stampeders president and chief operating officer Lyle Bauer agreed.

“It makes a lot of sense,” he said. “Our vision and plan for the future mirrors what the Flames are trying to do. Ken and I have had numerous conversations about the future. This is a tough business.

“The more you can divide in other assets, expertise, and other areas, it makes imminent sense.”

Previously, the Flames had a small ownership stake in the Stamps, while the majority group was headed by John Forzani and Doug Mitchell.

However, Forzani, the Stamps chairman, officially handed over the ball on Thursday and called the move a positive step, adding the deal will offer more buying power and a better fan experience.

“Professional sports team have an inherited risk,” said Forzani, who will still maintain a stake. “Year after year, you’re under the gun. By turning over a majority interest to a professional sports management group - they’ll have five teams they are going to manage - it certainly takes the risk out of it.

“The Flames needed more than 50 per cent. You can’t do that if they only own 10 per cent.”

Also announced Thursday was a five-year contract extension of head coach and general manager John Hufnagel. His current contract was set to expire after the 2013 season.

kodland@calgaryherald.com

Follow on Twitter/KristenOdlandCH

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